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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Revenues:        
Rental income $ 35,265 $ 33,072 $ 70,300 $ 64,952
Interest income from mortgage loans 6,625 6,811 13,373 13,389
Interest and other income 578 113 1,417 259
Total revenues 42,468 39,996 85,090 78,600
Expenses:        
Interest expense 7,151 6,750 14,622 12,750
Depreciation and amortization 9,308 8,907 18,667 17,468
Impairment on receivables 1,880   1,880  
(Recovery) provision for doubtful accounts (5) 118 (43) 202
Transaction costs   4 22 94
General and administrative expenses 4,386 4,117 9,126 8,400
Total expenses 22,720 19,896 44,274 38,914
Operating income 19,748 20,100 40,816 39,686
Income from unconsolidated joint ventures 575 278 1,020 550
Gain on sale of real estate, net 5,054 1,802 5,054 1,802
Net income 25,377 22,180 46,890 42,038
Income allocated to participating securities (104) (105) (201) (206)
Net income available to common stockholders $ 25,273 $ 22,075 $ 46,689 $ 41,832
Earnings per common share        
Basic (in dollars per share) $ 0.64 $ 0.58 $ 1.19 $ 1.11
Diluted (in dollars per share) $ 0.64 $ 0.58 $ 1.18 $ 1.11
Weighted average shares used to calculate earnings per common share        
Basic (in shares) 39,414 37,969 39,390 37,707
Diluted (in shares) 39,794 38,164 39,769 37,720
Dividends per share declared (in dollars per share) $ 0.57 $ 0.54 $ 1.14 $ 1.08
Dividends paid per common share (in dollars per share) $ 0.57 $ 0.54 $ 1.14 $ 1.08